Harris & Harris Group Notes Bridgelux and Toshiba Collaboration
April 23 2013 - 10:20AM
Harris & Harris Group, Inc. (Nasdaq:TINY), an early-stage,
active investor in transformative companies, notes today's
announcement by Bridgelux, Inc., and Toshiba Corporation that they
have entered into an agreement under which Bridgelux will sell to
Toshiba its industry-leading GaN-on-Silicon technology and related
assets, and the companies will strengthen and extend their
strategic technology collaboration through an expanded licensing
and manufacturing relationship.
In January 2012, Bridgelux and Toshiba entered into a Joint
Development and Collaboration Agreement for the development of
GaN-on-Silicon LED technologies. The success of that relationship
was demonstrated by Toshiba's announcements of the achievement of
world class performance for 8" GaN-on-Silicon LED wafers and mass
production of white LEDs. Both of these milestones were
achieved using Bridgelux's crystal growth and LED device
technologies as well as Toshiba's advanced silicon processes and
manufacturing technologies. Bridgelux's press release may be
viewed at
http://bridgelux.com/media-center/events/bridgelux-and-toshiba-collaboration/.
"When we made our initial investment in 2005, we knew that LEDs
would become an important growth market and that Bridgelux had
novel and differentiated technology. Today's announcement
with Toshiba is another step towards validating that decision
almost eight years ago," said Douglas W. Jamison, Chief Executive
Officer of Harris & Harris Group. "Brad Bullington and
the Bridgelux management team should be commended for developing
such a strong relationship with Toshiba. This relationship is
critical to maximizing the substantial opportunity in the global
LED market," added Dr. Alexei A. Andreev, Managing Director at
Harris & Harris Group and Bridgelux Board Observer.
Harris & Harris Group is an investor in privately held
Bridgelux, Inc.
Detailed information about Harris & Harris Group and its
holdings can be found on its website at www.HHVC.com and on
Facebook at www.facebook.com/harrisharrisvc.
This press release may contain statements of a forward-looking
nature relating to future events. These forward-looking statements
are subject to the inherent uncertainties in predicting future
results and conditions. These statements reflect the Company's
current beliefs, and a number of important factors could cause
actual results to differ materially from those expressed in this
press release. Please see the Company's Annual Report on Form
10-K for the fiscal year ended December 31, 2012, as well as
subsequent filings, filed with the Securities and Exchange
Commission for a more detailed discussion of the risks and
uncertainties associated with the Company's business, including,
but not limited to, the risks and uncertainties associated with
venture capital investing and other significant factors that could
affect the Company's actual results. Except as otherwise required
by Federal securities laws, the Company undertakes no obligation to
update or revise these forward-looking statements to reflect new
events or uncertainties. The references to the websites
www.HHVC.com, www.Facebook.com and www.bridgelux.com have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press
release. Harris & Harris Group is not responsible for the
contents of third party websites.
CONTACT: DOUGLAS W. JAMISON
TEL. NO. (212) 582-0900
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